The Loden Entrepreneurship program
" Today my company - DAMU (Druk Adding Masala Unit) - is established and I am able to contribute to the economy of the community and I have also created two jobs in the unit. I bought eight metric tons of raw turmeric from local farmers, which generated income for Nu. 160,000 for farmers in 2019. Our goal is to replace spices imported from India and other parts of the world with those produced by local farmers. ”, Narath Koirala, member of the entrepreneurship program.
Since 2008, the Loden Foundation has supported more than 220 entrepreneurs in Bhutan in many sectors. This was made possible through donors’ support, but also through partnerships with other organizations, through various fundings.
The Loden Entrepreneurship program offers interest-free, unsecured loans repayable over three years. The repayment period is linked to the nature of the business, for example the period will be longer for an agricultural project.
The calls for entrepreneurial project proposals are launched twice a year, in the Spring and in the Fall. During this period, Bhutanese entrepreneurs are invited to submit business proposals. These proposals are reviewed and shortlisted by a panel of judges made up of business experts in Bhutan and abroad. The shortlisted candidates are then called for a final round of interviews.